Echo Global Logistics (NASDAQ:ECHO) had its price objective raised by Morgan Stanley from $22.00 to $23.00 in a research report report published on Tuesday morning. The firm currently has an underweight rating on the transportation company’s stock.
Several other analysts also recently commented on ECHO. BidaskClub downgraded shares of Echo Global Logistics from a buy rating to a hold rating in a research report on Thursday, August 9th. Credit Suisse Group upped their price target on shares of Echo Global Logistics from $31.00 to $32.00 and gave the company a neutral rating in a research report on Thursday, July 26th. ValuEngine downgraded shares of Echo Global Logistics from a buy rating to a hold rating in a research report on Thursday, September 27th. TheStreet upgraded shares of Echo Global Logistics from a c+ rating to a b- rating in a research report on Friday, August 10th. Finally, Stifel Nicolaus initiated coverage on shares of Echo Global Logistics in a research report on Tuesday, June 19th. They issued a buy rating and a $34.00 price target for the company. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. Echo Global Logistics has a consensus rating of Hold and an average price target of $34.89.
Shares of Echo Global Logistics stock opened at $27.46 on Tuesday. Echo Global Logistics has a 12-month low of $18.70 and a 12-month high of $36.75. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $883.56 million, a PE ratio of 41.61, a P/E/G ratio of 1.25 and a beta of 1.61.
Echo Global Logistics (NASDAQ:ECHO) last issued its earnings results on Wednesday, July 25th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.07. Echo Global Logistics had a net margin of 1.24% and a return on equity of 9.43%. The business had revenue of $635.00 million during the quarter, compared to analysts’ expectations of $611.26 million. During the same quarter in the prior year, the business posted $0.18 EPS. The company’s revenue for the quarter was up 35.1% on a year-over-year basis. As a group, research analysts expect that Echo Global Logistics will post 1.42 earnings per share for the current year.
In related news, CFO Kyle Sauers sold 6,000 shares of the company’s stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $33.49, for a total value of $200,940.00. Following the completion of the sale, the chief financial officer now owns 64,287 shares in the company, valued at approximately $2,152,971.63. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Douglas R. Waggoner sold 40,000 shares of the company’s stock in a transaction on Monday, July 23rd. The shares were sold at an average price of $31.46, for a total transaction of $1,258,400.00. Following the completion of the sale, the chief executive officer now owns 346,332 shares of the company’s stock, valued at approximately $10,895,604.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,000 shares of company stock valued at $2,307,090. 3.20% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the business. Federated Investors Inc. PA raised its position in Echo Global Logistics by 820.8% during the 1st quarter. Federated Investors Inc. PA now owns 4,116 shares of the transportation company’s stock worth $114,000 after buying an additional 3,669 shares during the last quarter. SG Americas Securities LLC purchased a new position in Echo Global Logistics during the 2nd quarter worth $175,000. Piedmont Investment Advisors LLC purchased a new position in Echo Global Logistics during the 2nd quarter worth $182,000. PNC Financial Services Group Inc. raised its position in Echo Global Logistics by 392.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,440 shares of the transportation company’s stock worth $261,000 after buying an additional 7,523 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in Echo Global Logistics during the 1st quarter worth $279,000. Institutional investors own 97.99% of the company’s stock.
Echo Global Logistics Company Profile
Echo Global Logistics, Inc provides technology-enabled transportation and supply chain management solutions in the United States. It uses a proprietary technology platform to compile and analyze data from its multi-modal network of transportation providers for the transportation and logistics needs. The company offers services in various transportation modes, such as truckload, less-than truckload, small parcel, inter-modal, domestic air, and expedited and international.
See Also: Earnings Per Share (EPS)
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